Perhaps a little vindication today (not that it's the most important thing in the world). Chipotle (NYSE:CMG) blew median estimates of 26 cents away, reporting a 57% rise in earnings per share to 31 cents and raised its revenue forecast for the year.
Meanwhile, Reuters headlines report: "Chipotle net income down, sees slower sales growth." Talk about misleading by technicalities. What's the agenda here? Do they feel like they need to tilt the headline to be in-line with the fact that the stock will open lower this morning?
Slower growth? Well, sure, because Chipotle's current growth rate is simply not sustainable. My 5 year old nephew might be able to tell you that! (Watching him eat a Chipotle burrito would be entertaining, though)
Chipotle's is healthy, but in the same hated sector that Panera (NASDAQ:PNRA) is. And perhaps its valuation is somewhat high in the short term. So we wait, and we can pick up two great companies while the markets adjust.